One of Newcastle’s most beloved music venues, the Cambridge Hotel, is now up for sale.

The venue’s current owners have put it on the market after 25 years, and it’s reportedly being marketed to developers who already have plans for a new apartment complex, as Fairfax Media reports.

It’s not all bad news, though, because the hotel’s current operators say they want to keep the venue up-and-running as a live music space. In a statement, they say, “We have six years remaining on our lease and have no intentions of going anywhere anytime soon.

“We have been in discussions with the current and potential new owners of The Cambo to do everything we can to keep Newcastle’s most iconic live music venue true to its name.

“It is clear to us that Newcastle loves live music, or any music for that matter. We love music too, and have no intention of shutting this party down.”

The hotel’s co-owner, John Palmieri, believes the iconic pub could become part of the new apartment development, which could see apartments built above the venue. We’re not sure how well this would work in terms of possible noise complaints, though.

“We’re hoping the developer that ultimately acquires it will see fit to make sure they maintain a hotel within the complex,” Palmieri told Fairfax. “I’m pretty confident that will happen. There would be nothing to replace it in terms of what it can offer.”

The Cambridge Hotel Statement

Many of you have probably read the article in this morning’s Newcastle Herald. From where we stand, we have six years remaining on our lease and have no intentions of going anywhere anytime soon. We have been in discussions with the current and potential new owners of The Cambo to do everything we can to keep Newcastle’s most iconic live music venue true to it’s name.

We’ve had sold out shows for Dune Rats, The Hard Aches, San Cisco, Northlane, Peking Duk, Client Liaison, Gooch Palms, Birds of Tokyo, The Living End, Marshmello, Trophy Eyes, Thundamentals, Tash Sultana, plus thousands of tickets sold for other local, national and international bands. It is clear to us that Newcastle loves live music, or any music for that matter. We love music too, and have no intention of shutting this party down.